32,386 Shares in i3 Verticals, Inc. (NASDAQ:IIIV) Acquired by Equitable Trust Co.

Equitable Trust Co. purchased a new stake in i3 Verticals, Inc. (NASDAQ:IIIV) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 32,386 shares of the company’s stock, valued at approximately $746,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IIIV. Sanctuary Advisors LLC purchased a new position in i3 Verticals in the 2nd quarter valued at approximately $292,000. Argent Capital Management LLC boosted its position in i3 Verticals by 15.0% in the 3rd quarter. Argent Capital Management LLC now owns 16,180 shares of the company’s stock valued at $345,000 after buying an additional 2,114 shares during the period. TimesSquare Capital Management LLC purchased a new position in i3 Verticals in the 3rd quarter valued at approximately $11,373,000. Victory Capital Management Inc. boosted its position in i3 Verticals by 6.1% in the 3rd quarter. Victory Capital Management Inc. now owns 48,500 shares of the company’s stock valued at $1,034,000 after buying an additional 2,800 shares during the period. Finally, Royce & Associates LP boosted its position in i3 Verticals by 11.1% in the 3rd quarter. Royce & Associates LP now owns 488,840 shares of the company’s stock valued at $10,417,000 after buying an additional 48,840 shares during the period. Hedge funds and other institutional investors own 84.22% of the company’s stock.

i3 Verticals Price Performance

Shares of NASDAQ:IIIV opened at $29.22 on Tuesday. The company’s fifty day moving average price is $24.06 and its 200 day moving average price is $23.29. i3 Verticals, Inc. has a 12 month low of $18.21 and a 12 month high of $29.80. The firm has a market capitalization of $980.04 million, a P/E ratio of 6.51 and a beta of 1.51.

i3 Verticals (NASDAQ:IIIV) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.05). i3 Verticals had a return on equity of 3.59% and a net margin of 41.85%. On average, sell-side analysts anticipate that i3 Verticals, Inc. will post 0.9 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on IIIV shares. BMO Capital Markets raised their price target on shares of i3 Verticals from $22.00 to $26.00 and gave the company a “market perform” rating in a research report on Monday. Benchmark reaffirmed a “buy” rating and set a $33.00 price objective on shares of i3 Verticals in a research report on Tuesday, November 19th. Stephens reaffirmed an “overweight” rating and set a $29.00 price objective on shares of i3 Verticals in a research report on Tuesday, November 19th. DA Davidson lifted their price objective on shares of i3 Verticals from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday. Finally, KeyCorp lifted their price objective on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, i3 Verticals currently has a consensus rating of “Moderate Buy” and an average target price of $28.86.

Insider Buying and Selling

In other i3 Verticals news, President Frederick Stanford sold 17,577 shares of i3 Verticals stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $25.28, for a total value of $444,346.56. Following the transaction, the president now directly owns 100,000 shares in the company, valued at approximately $2,528,000. The trade was a 14.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 59.07% of the stock is owned by company insiders.

i3 Verticals Profile

i3 Verticals, Inc provides integrated payment and software solutions primarily to the public sector and healthcare markets in the United States. It operates in two segments, Software and Services, and Merchant Services. The company offers payment processing services that enables upper and lower court case management, collections, finance and accounting, motor vehicle and carrier registration, e-filing and taxation, license plate inventory, property tax management, utility billing, professional licensing, document workflow, and law enforcement software; assists public schools in completing payment processing functions, including accepting payments for online or at school lunches, and school activities.